BlockBeats News, October 28, since Bitcoin's historical high of $73,800, it has been consolidating between $53,000 and $72,000. However, technical charts and multiple indicators suggest that Bitcoin's consolidation phase may be coming to an end, with prices expected to break out.

Cryptocurrency analyst Rekt Capital points out that the bullish weekly close on October 27 signals that Bitcoin is about to break out of its consolidation. Historically, Bitcoin usually peaks between 518 and 550 days after a halving event. Although the consolidation period after a halving is longer, Bitcoin still accelerates for about 35 days during this period.

Rekt Capital further explains that the longer the consolidation time, the more significant the effect of Bitcoin realigning with traditional halving cycles. Bitcoin's volatility indicators show that market expectations for a price breakout remain strong.